LAHORE: Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial has assured maximum facilitation for the business community during a meeting with Lahore Chamber of Commerce and Industry (LCCI) President Faheem-ur-Rehman Saigol, according to Beyond Time News.
Both sides discussed taxation issues, industrial challenges, and proposals for the upcoming federal budget. The LCCI also presented detailed recommendations aimed at improving the business environment and supporting economic growth.
FBR Focuses on Business-Friendly Tax Reforms
The FBR chairman said the institution will focus on making tax policies more effective while improving facilitation for traders and industrialists. He added that he will visit the Lahore Chamber before the federal budget to brief the business community on policy changes.
He also highlighted that the FBR’s evolving role includes better implementation of tax rules alongside smoother service delivery for businesses.
LCCI Raises Key Economic Concerns
LCCI President Faheem-ur-Rehman Saigol briefed the chairman on major challenges faced by trade and industry. He stressed the need for stable policies, saying frequent SRO changes and shifting tax interpretations create uncertainty for investors.
He also pointed out that Pakistan’s cost of doing business remains higher than regional competitors, which affects industrial competitiveness.
Read more:FBR Revenue Shortfall Raises Serious Doubts Over Budget Targets
Budget Proposals for Growth and Stability
The LCCI submitted several proposals to improve the tax and trade system. These included:
- Ending frequent policy changes and ensuring stability
- Introducing a simple and predictable tax system for exporters and traders
- Creating a sector-wise tariff structure to protect local industries
- Reducing advance taxes and shifting toward sales-stage taxation
- Improving export facilitation through real-time data systems
- Expanding vocational training linked with industry needs
- Supporting IT, digital services, and value-added industries
The chamber also urged reforms in dairy and meat taxation and suggested uniform tax policies across all regions to ensure fairness.
Focus on Economic Reforms
Both sides agreed on the need for practical reforms that support industry, increase exports, and broaden the tax base. The meeting ended with a commitment to continue coordination ahead of the upcoming federal budget.
